https://www.taxtmi.com/news?id=16169 The Protocol amends the India-Mauritius tax convention to establish source-based taxation of capital gains on shares for post-cut-off acquisitions while grandfathering pre-existing investments; a transitional reduced tax treatment is available subject to the Limitation of Benefits provisions which deny benefits to entities failing main-purpose or bona fide business tests or deemed to be shell/conduit companies. The Protocol also imposes source-based taxation on interest for new debt claims of Mauritian banks, updates exchange-of-information standards, and provides assistance in tax collection. en-us Wed, 11 May 2016 10:15:15 +0530 Wed, 11 May 2016 10:15:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=16169 The Protocol amends the India-Mauritius tax convention to establish source-based taxation of capital gains on shares for post-cut-off acquisitions while grandfathering pre-existing investments; a transitional reduced tax treatment is available subject to the Limitation of Benefits provisions which deny benefits to entities failing main-purpose or bona fide business tests or deemed to be shell/conduit companies. The Protocol also imposes source-based taxation on interest for new debt claims of Mauritian banks, updates exchange-of-information standards, and provides assistance in tax collection. News - Wed, 11 May 2016 10:15:15 +0530 https://www.taxtmi.com/news?id=16169